2002-31 AUTHORIZING AN INTERGOVERNMENTAL COOPERATION AGREEMENT

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�c „ I mortgage loans under the Program (the Mortgage Loans ), all under and in accordance with the Constitution and laws of the State of Illinois; and WHEREAS, 30 Illinois Compiled Statutes 2000, 345/6 et seq., as supplemented and amended, permits the corporate authorities of any home rule unit of government to reallocate its private activity bond allocation to another home rule unit, and to allocate volume cap which has been allocated to it toward the issuance of the Bonds, subject to certain restrictions, guidelines and procedures, which guidelines and procedures also permit units of government (including without limitation non-home rule units of government) to allocate volume cap which has been allocated to it towazd the issuance of the Bonds and to pool allocations of volume cap received from the Office of Governor of the State of Illinois; NOw, THEREFORE, in consideration of the above premises and of the mutual covenants hereinafter contained and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Municipalities hereby agree, as follows: Section 1. Bonds/Approval. The Issuers (or either of them) hereby agree to issue the Bonds in one or more series on behalf of all of the Municipalities, as provided in the trust indenture or indentures pursuant to which the Bonds will be issued, for the purpose of purchasing GNMA Securities, Fannie Mae Securities and FHLMC Securities to finance mortgage loans for single family residences for low and moderate income persons within the corporate boundaries ' of each Municipality, to pay interest on the Bonds and to pay the costs of issuance of the Bonds. �' The Bonds shall be issued in such aggregate principal amounts, shall be issued in such series and I classes, shall have such stated maturity or maturities, shall bear interest at such rate or rates, I payable on such date or dates, shall be subject to redemption prior to maturity, shall be payable at such date or dates and at such place or places, and shall have such other terms, all as shall be agreed upon by the Issuers and approved by ordinances of the respective governing bodies of each Issuer (or either of them). The proceeds of the Bonds shall be applied to such public purposes and to the payment of the costs of issuance as shall be approved by ordinances of the respective governing bodies of each Issuer (or any of them). Each Municipality hereby ratifies the conduct of the combined public hearing held in connection with the issuance of the Bonds, and hereby approves the issuance of the Bonds as described in the notice of public hearing published in connection with the issuance of the Bonds (which is hereby incorporated by reference). Section 2. Transfer and Allocation of Unified Volume Cap. Certain Municipalities which are home rule units of government, other than the Issuers, hereby transfer to the Issuers and/or allocate unified volume cap that they have reserved to issue private activity bonds, as set forth in Exhibit A attached to and made a part of this Cooperation Agreement. Certain Municipalities which are not home rule units of government have received allocation of unified volume cap from the State of Illinois as set forth in Exhibit A attached to and made a part of this Cooperation Agreement. The Municipalities, including without limitation the Issuers, hereby allocate the unified volume cap referred to in this Section to the issuance of the Bonds. Each Municipality that has received or hereafter receives an allocation of unified volume cap from the State of Illinois for the Program, after January 1, 2002, for calendar year 2002, as set forth in Exhibit A attached hereto and made a part hereof, which Exhibit may be supplemented from time -6-